Advertorial feature
20 / 21 plummet by around 70 per cent year-on-year . But Sitte is pleased with how quickly the company has adjusted : “ Over the years , it built a strong e-commerce business , which pre-pandemic was about 10-15 per cent of sales . That should now be substantially higher .” Another European company to stand out for Sitte has been Zalando , Europe ’ s leading online fashion retailer . It was already shifting from being an online store that takes inventory and controls much of the supply chain towards a platform model , offering services including warehousing , distribution and marketing to suppliers . He says : “ What has stood out is how well it has executed on the opportunities presented to it , accelerating the shift towards the platform business model .” Zalando ’ s platform sales and gross merchandise volumes have grown to upwards of 30 per cent as a result , and its marketplace , which attracts customers in their millions , has also proved a lifeline for many of the businesses selling their goods on it . Europe ’ s luxury brands , largely reliant on their retail footprint to provide a highend shopping experience , have also had to adapt creatively . Sitte singles out Kering , the French holding company that controls or owns the Gucci , Alexander McQueen and Bottega Veneta brands , for managing the online
TRUSTNET